Research On The Priority Sequence Of Real Estate Enterprises’ Bankruptcy Procedure

In the insolvency proceedings,the real estate business and other bankrupt enterprises,will involve the general priority,such as bankruptcy costs,total benefit debts,employee and tax claims.Also,due to the characteristics of the industry,built around construction projects in an insolvency proceeding will also produce buyers priority,the priority of construction engineering cost and guarantee right which called the special priority.Real estate bankruptcy right for the unusual intense,between order of priority rights along analysis greatly influence the smooth progress of bankruptcy proceedings as a whole.Existing law cannot provide a normative and complete guide in insolvency proceedings for how to determine priority between rights rank,or the priority(especially construction-building priorities)how to apply in insolvency proceedings.Through detailed analyze the specific application of the priority of construction engineering cost,buyers priority and guarantee right in insolvency proceedings,finalized in the real estate enterprise the right of the priority in insolvency proceedings rank and the balance of power.This article will start from the perspective of the priority sequence of the real estate enterprise bankruptcy proceeding,and consists of five parts.The first part introduces the types of priorities involved in the insolvency proceedings of real estate enterprises,which including general priority and construction project priorities,and discusses the priority of construction project as the starting point.The second part introduces the priority of buyers,by analyzing the causes of the right of priority and defining the scope of rights subject to determine buyers priority content,pointing out which can be used as priority claims and which could only be declared as common claims of the type.And emphasizing that,manager need to actively play a subjective initiative for the improvement of the rights of the buyers.Manager should deal with the various issues involved in this group in a timely manner,it also need the help of the legal provisions and the social security system.The third part describes the realization of the priority of construction engineering cost in the bankruptcy procedure.Analyzing the reasons for priority of claim in construction engineering,determining the right belongs to the priority areas,describing the current dilemma in bankruptcy proceedings is ambiguities in the law and other rights-holders take avoiding obstacles to the realization of the right.Finally,pointing out that,the priority ofconstruction engineering cost in bankruptcy proceedings in the path to achieving a clear legal provisions,which including the right subject,the scope of the project price and the duration of the exercise;and the manager should play an active role to effectively promote the realization of the rights.The fourth part is the priority of the security interest in the insolvency proceedings.The article firstly analyzes the economic significance of the priority of the secured property and the value of priority in insolvency proceedings;secondly,pointing out the limitations of the right in insolvency proceedings,mainly for the suspension of the guaranteed property and the voting on the restrictions;lastly,pointing out that the realization way of the security interest,in particular the construction project security property,in different insolvency proceedings.The last part is to determine the priority sequence of the real estate business in bankruptcy proceedings.Through comparing the order between the general priority and the special priority,the priority between the special priorities,finally defining a special priority is given to the priority of the particular property,if there is a surplus,and then in accordance with the bankruptcy costs and total benefit debts,employee claims,tax claims;as for the priority between the special priorities,the right order is the priority of buyers,the priority of construction engineering cost,and finally for the construction project security interests.In determining the sequence of priority rights at the same time,also putting forward the balance of inferior interests after the balance of measures,hoping to improve the real estate enterprises in China’s bankruptcy priority system to provide a new idea.